NFT Market Grows 32.93% Driven by Ethereum Pudgy Penguins

A respectable 32.93% increase brings the overall sales volume to $302.2 million. This is a clear increase compared to sales of $224 million last week. Alongside this boom, market involvement has increased. Across the board, the market figures reveal robust growth.

• NFT buyers have nearly doubled with a 92.39% increase to 349,972
• NFT sellers have grown significantly by 77.18% to 207,672
• NFT transactions have shown a healthy growth of 7.28% to 1,651,950

Ethereum NFT Sales Soar 74%

Sales volume for the NFT Market Grows 32.93%, which uses the Ethereum cryptocurrency, surged to $199.9 million, demonstrating excellent growth. This is an increase of 73.56 per cent compared to the previous week. An increase of 39.73%, or 44,220 purchasers, have joined the network.

Significantly, wash trading has increased by 122.67% to $105.1 million, which is over 100% of the original amount, suggesting that market activity has increased. In second place, with a 23% drop and $39.7 million in sales volume, is the Bitcoin NFT ecosystem (btc0.17%). Nevertheless, with 38,987 purchases, the network demonstrates respectable development in user involvement.

Solana’s sales of $29.9 million, up a slight 5.14%, have solidified its third-place position. A 108.45% increase to 104,958 purchasers demonstrates that the network’s user participation is significant. With $10.8 million in revenue, Mythos Chain (MYTH) remained in fourth place. First place goes to ImmutableX (imx4.72%Immutable), followed by Polygon (pol1.39%POL) (ex-MATIC), with $6.9 million and $4.8 million, respectively.

Pudgy Penguins Sales Jump 90%

With a 90% increase, Pudgy Penguins’ sales have nearly grown. The NFT Market grows 32.93% per million. As a result of their ecosystem’s expansion, transactions have increased by 104% and unique buyers by 81%. Second place goes to LilPudgys with $19.4 million in sales, a 53.57% increase. Azuki comes in third with $16.9 million in sales, a 108.19% increase. Doodles joins the top five with $13.4 million in sales, a 226.08% increase. BRC-20 NFTs round out the top five with $9.2 million in sales.

Final thoughts

With total sales volume exceeding $302.2 million, a notable 32.93% rise from the previous week, the NFT Market Grows 32.93% exhibit remarkable development. There has been a corresponding increase in the number of buyers and sellers, suggesting that market involvement is growing. Projects such as Azuki and Pudgy Penguins are experiencing significant growth in sales and transactions, but the Market has grown 32.93% and continues to dominate the market with a 74% increase in sales. The market is maturing, and there is ongoing interest in NFTs across different blockchains and ecosystems, which is reflected in its expansion despite certain problems, such as rising wash trading.

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